EximBank reaches the second position of Romanian export factors classification
Bucharest, May 15, 2017 – EximBank has continuously consolidated its positioning on the factoring market and has registered a total turnover from factoring operations of almost 110 Million Eur in 2016, 76% higher than the reported level in 2015.
Consequently, EximBank has managed to reach the second position in the Romanian export factors classification as per the data offered by Factors Chain International (the most important network in factoring), climbing two positions as compared to 2015.
”The high competitive level as well as the flexibility of our offer in terms of structuring facilities tailored to each business have allowed us to maintain the fast growing trend on factoring services segment and we expect more and more companies interested to access our solutions. I am confident of this because after introducing last year in our portfolio the internal factoring without recourse – the object of an insurance policy with a specialized company – we now have a complete offer for companies, giving them access to an advantageous factoring services package including financing, managing and receivables collection.”, said Traian Halalai, Executive President of EximBank.
EximBank clients have focused last year especially on the export factoring without recourse that involves taking up the risk against the foreign debtor (the importer) the risks being completely covered by the import factor or an insurance company/bank. This facility counted for more than 90% out of the total turnover for the respective segment.
Most of the companies that have chosen to partner up with EximBank are active on metal industry/ chemical products, automotive, equipment and machinery and energy fields. In terms of clients profiling, the flexibility of the offer and its advantages, the fact that the financing may come up to 100% of the nominal invoice value as well as the fast process of processing requests have attracted both corporate and small and medium enterprises, these ones up to 20% of the total factoring clients figure.
EximBank is a specialized institution actively involved in supporting and promoting the Romanian business environment. Its specific financial instruments are exclusively targeted to the corporate segment and may be accessed in advantageous conditions by any type of company, either SME or big company, involved in international transactions or solely active on local market. The companies benefit from a competitive portfolio of treasury, cash management, trade finance and factoring products, that come to add up to the financing and guaranteeing offer. In addition, acting as a state agent on the Romanian market of guarantees and insurance, EximBank is the main channel for the public funds made available by the state to be infused in the real economy.
Additional details at: www.eximbank.ro or informatii@eximbank.ro.